The deal has been on the floor for a long time and now Paytm has officially announced that the acquisition of the hyperlocal sites Nearbuy and Little is done. Paytm is going to merge both the establishments to form India’s largest deal discovery platform. It will have the majority stakes and both the startups (Nearbuy and Little) will make Paytm much stronger in the offline to online promotions.
Paytm founder Vijay Shekhar Sharma said, “This combination of Nearbuy and Little marks a great opportunity for us to reinforce our commitment to support small and large retailers in the new age of mobile commerce and payments. I am sure consumers will love the greater selection and reach of everyday deals and discount offers,”
This merger will help Paytm to engage more and more new customers by providing great deals and offers.
Little was founded in the year 2015 and operates in 17 cities across India, it offers a great deal on its website and mobile. Thus the startup will help in encouraging more customers to use Paytm mobile app. Little has been very good with customer intelligence they keep a track on what needs a particular consumer has, now it is to Paytm’s advantage.
Nearbuy formerly Groupon was founded in the year 2010 and is well known for its discount coupons. Now it will be easier for the users to access Nearbuy and Little discounts via Paytm. The merger brings the merchant’s count to 40,000 and they expect to increase this number to 100,000 by the end of next year.
Paytm founder Vijay Shekhar Sharma tweeted in a post, “Time for working hard and expanding our commitment to India’s retailers, together,”.
The company is ready to provide offline deals to boost sales via movies, restaurants, and shopping.